In this article we will discuss about:- 1. Need for Inflation Accounting 2. Merits of Inflation Accounting 3. Demerits. Need for Inflation Accounting: Accounting is based on the traditional concept of cost and revenue. Money is the yardstick for measuring profits and losses and financial health of the business — operating results and financial position. The basic objective of accounting [...]
In this article we will discuss about the Inflation Accounting:- 1. Need for Inflation Accounting 2. Limitations of Historical Accounting in a Period of Inflation 3. Objections 4. Role 5. Current Purchasing Power Method 6. Constant Dollar Accounting. Contents: Need for Inflation Accounting Limitations of Historical Accounting in a Period of Inflation Objections to Inflation Accounting Role of Inflation Accounting [...]
In this article we will discuss about the Current Cost Accounting (CCA):- 1. Introduction to Current Cost Accounting 2. Features 3. Evaluation 4. Conclusion 5. The Stand of the Institute of Chartered Accountants of India. Contents: Introduction to Current Cost Accounting Features of Current Cost Accounting Evaluation of Current Cost Accounting Conclusion to Current Cost Accounting The Stand of the [...]